The government has begun the search for private sector investors to support the Sizewell C nuclear power development.
Barclays has been appointed to lead the search for investors, as the government looks to step up progress on developing the new nuclear power station. Partnerships Bulletin understands that the bank is working with a number of other banks and investment advisors including Rothschilds.
Sizewell C is to be delivered through the regulated asset base (RAB) model. Earlier this year, it was confirmed that the government would take a 20% stake in the £20bn project, with the site’s developer EDF also taking a 20% share.
The remaining 60% is due to be financed by private sector investors. At the UK Partnerships Hub conference in June, Infrastructure & Projects Authority deputy chief executive Matthew Vickerstaff highlighted the opportunity afforded by the Sizewell scheme.
“If there are investors that want to invest in the UK’s infrastructure; there’s going to be plenty of room just on that single project,” he said.
The Development Consent Order (DCO) for the Sizewell C project is expected this month, which should provide further momentum to the scheme.